RBI has released draft circular on "Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies" for public comments. The Non-Banking Financial Companies (NBFCs) play an important role in the financial system of the country, particularly in delivering credit to the last mile, including the retail as well as MSME sectors. NBFCs' ability to perform their role effectively and efficiently requires them to be financially resilient, well-regulated and properly governed so that they retain the confidence of all their stakeholders including their lenders and borrowers. The Reserve Bank has always endeavoured to provide and modulate a regulatory architecture consistent with these objectives. In this context, an analysis of the recent developments in the NBFC sector pointed to the need for a stronger Asset Liability Management (ALM) framework in the NBFCs.

Hindustan Shipyard Limited (HSL) and two other public sector undertakings have come together to float a consortium for building submarines. The two other PSUs are Bharat Heavy Electricals Limited (BHEL) and Mishra Dhatu Nigam Ltd (Midhani). Indigenous construction of six conventional submarines is envisaged by Ministry of Defence, a press release from HSL said here Saturday. Representatives of HSL, BHEL and Midhani signed anMoU on Friday in the presence of HSL chairman and managing director Rear Admiral LV SaratBabu, the release said. The MoU is a step to keep in line with the'Make In India'initiative of the government in the defence sector, it said. The agreement aims to harness the complimentary expertise of the three companies and provide the country with a credible, domestic alternative for construction of the submarines. The consortium would jointly stake claim with the Ministry for being considered as a prospective bidder for the proposed project of the Navy in ...

The Rajasthan police Saturday conducted raids at several places in the country and arrested 11 current and former office bearers of Mukesh Modi's Adarsh Credit Co-operative Society Ltd in connection with a multi-crore fraud, officials said. The special operations group of Rajasthan police raided premises at several locations including Mumbai, Ahmedabad, Sirohi, Gurgaon and Jaipur, an SOG official said. The SOG had begun the probe in July last year and registered an FIR December last year. The society, with 806 branches across the country, including 309 in Rajasthan, has around 10 lakh investors with an investment of about Rs 8,000 crore with it. The society siphoned off investors' money by transferring the fund to shell companies, said ATS and SOG Director General Bhupendra Singh Saturday. The founder also benefitted his family members and duped the investors, DG ATS and SOG Bhupendra Singh said on Saturday.

A 53-year-old farmer allegedly committed suicide here by consuming some poisonous substance, police said Saturday. The farmer was rushed to hospital Friday night by his relatives and died this morning, they said. Financial burden had forced the man to take the extreme step, relatives said. Police said he had a taken a loan of Rs 10 lakh from three banks and was reportedly facing recovery proceedings.

Summer is approaching, which means picnics, sidewalk seating, and dining outside wherever, whenever you can. And as the sun goes down later, that often means drinks outdoors later in the day and into the evening, too. Ros? winemakers have seized upon the astronomical surge in popularity over the last few years, capitalizing on the summer season to keep the pink drink flowing in bars and restaurants even during cooler months of the year. But for most oenophiles and casual wine drinkers, ros? is best appreciated during warm weather. Given the surge in popularity, there has also been a explosion of new choices on the market, making it difficult to find just the right one for the right time. With that in mind, here are some key things to look for when picking up your next bottle of ros?. Nose Ros?s typically feature fruit-forward and floral aromas. "Some warning signs would be if the wine smells of vinegar or wet cardboard, which points to a flaw in that particular bottle," says Jeffrey Jindra, winemaker at ...